THE LEADER of the Economic Freedom Fighters, Julius Malema, says he has nothing to hide as he is linked to the VBS Mutual Bank money laundering.
Malema said this in a landmark advertisement that will explain the departure and stay of more than R1 billion.
This milestone, iThe People vs VBSwill start airing on Showmax from March 25 and repeat on M-net from next month.
Malema is one of those who will be explaining after his name came up when they were said to have benefited. Media reports revealed that he and his former deputy in the leadership of the EFF, Floyd Shivambu, received approximately R16 million.
“No one can testify,” Malema said in the ad.
Others who will be spoken to are the manager of the South African Reserve Bank, Lesetja Kganyago, one of the founders of VBS Madambi Muvhulawa, and the former head of the Public Investment Corporation, Dan Matjila.
There will also be journalists who investigated in detail what happened at this bank that once made headlines for lending money to the former president of the country, Jacob Zuma.
Zuma borrowed about R8 million to pay for the renovation of his house in Nkandla. This came after a report by the former public protector, Thuli Madonsela, that some of Zuma’s actions had nothing to do with security. Since the report of the lawyer, Terry Motau about what happened at the bank, many people have been prosecuted.
Tshifhiwa Matodzi who was the chairman of the bank pleaded guilty to various charges for his role and was sentenced to 15 years in prison.
Former treasurer Philip Truter also pleaded guilty and was sentenced to seven years. in 2020 he came out in 2024 to complete the sentence outside.